Numeral Announces $100M Series C to Expand AI-Powered Tax Compliance Across Industries
aiinsider ·
Numeral, an AI-powered sales tax compliance platform, has secured a $100 million Series C funding round led by Insight Partners. This investment brings the company's total capital raised to $157 million and includes participation from Salesforce Ventures, Geodesic, Benchmark, Mayfield, FCVC, Y Combinator, and Uncork. Founded in 2023 by CEO Sam Ross and CTO Matt DuVall, Numeral combines a deterministic tax engine with artificial intelligence to manage complex compliance lifecycles across more than 90 countries. The new funds will accelerate product development, expand into industries such as software, manufacturing, and wholesale, and support team growth. Numeral reports significant momentum, with transaction volumes increasing 327% year-over-year and expectations to process over 80 million transactions. The company aims to reduce manual work and filing errors for customers while adapting to evolving regulations like California’s upcoming SaaS taxation laws. Additionally, Numeral is launching an accounting partner program to deepen collaborations with financial firms.
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